AMIANTIT’S SUBSIDIARY TO HAVE A CAPITAL INCREASE, NO CHANGE TO OWNERSHIP RATIOS

Amiantit company said it was agreed on October 15, 2012 to increase the capital of its 50% owned International Water Distribution Company (Tawzea) from SAR 65 million to SAR 101 million by capitalizing the company’s SAR 14 million loans and investing SAR 22 million cash. The increase will retain the 50-50 ownership structure of the company shared by Amiantit and Sisco. The move aims at boosting Tawzea’s capability in executing water management projects in industrial cities.